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THE PRIME MINISTER

THE PRIME MINISTER

DECISION No.944-TTg OF NOVEMBER 8, 1997 ON THE ESTABLISHMENT OF DUC HOA II INDUSTRIAL ZONE, LONG AN PROVINCE AND APPROVAL OF THE INVESTMENT PROJECT FOR CONSTRUCTION AND BUSINESS OPERATION OF TECHNICAL INFRASTRUCTURE THEREIN

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;

Pursuant to the Regulation on Industrial Zones, Export Processing Zones and Hi-Tech Zones issued together with Decree No.36-CP of April 24, 1997 of the Government;

Pursuant to the Regulation on the Investment and Construction Management issued together with Decree No.42-CP of July 16, 1996 and Decree No.92-CP of August 23, 1997 of the Government;

At the proposals of the President of the People�s Committee of Long An province in reports No.253/CV-UB of April 1st, 1997 and No.744/CV-UB of August 19, 1997, and of the Minister of Planning and Investment in report No.5601/BKH-VPTD of September 9, 1997,

DECIDES:

Article 1.- To establish Duc Hoa II industrial zone in Long An province.

Duc Hoa II industrial zone shall be organized and operate in accordance with the Regulation on Industrial Zones, Export Processing Zones and Hi-Tech Zones issued together with Decree No.36-CP of April 24, 1997 of the Government.

Article 2.- To ratify the investment project for construction and business operation of technical infrastructure of Duc Hoa II industrial zone, Long An province with the following contents:

1. Name of the project: Investment project for the construction and business operation of the technical infrastructure of Duc Hoa II industrial zone, Long An province.

2. Investor: The Duc Hoa II Industrial Zone Joint Venture Company, a joint venture between Sai Gon Construction Corporation, which contributes 65% of the statutory capital, and Ngoc Dung limited liability company, which contributes 35% of the statutory capital. The joint venture�s head-office is located in Duc Hoa II industrial zone, Northern My Hanh commune, Duc Hoa district, Long An province.

3. Objective of the project: Leveling ground, building communication, electricity supply, water supply, information and communications, waste treatment...systems in order to put the already built infrastructure in the industrial zone into business operation.

4. Construction location: Northern My Hanh commune, Duc Hoa district, Long An province.

5. Occupied land area: The total planned area is 400 hectares, including 50 hectares for the first stage, which shall be accurately re-determined when the land lease procedures are carried out in accordance with the Land Law.

6. Total investment capital: VN Dong 96 billion.

7. Capital source: Self-acquired capital, capital supplied in advance by the investors, borrowed capital.

8. Operation duration: 50 years from the date the investment decision is issued.

9. Construction duration: Three years from the date the land lease decision is granted. In the course of construction investment, the investor shall have to complete all necessary procedures in accordance with the Regulation on the Investment and Construction Management.

Article 3.- Duc Hoa II Industrial Zone Joint Venture Company shall be entitled to borrow capital at the preferential interest rate from the State to construct the industrial zone�s infrastructure and enjoy financial preferences provided for in the Law on the Promotion of Domestic Investment.

Article 4.- The President of the People�s Committee of Long An province shall have to direct the investor in executing the project in accordance with the current regulations; elaborating the master plan for development of infrastructure outside the industrial zone�s fence in compatibility with those inside the industrial zone, and ensuring the efficient operation of the industrial zone.

Article 5.- This Decision takes effect 15 days after its signing.

Article 6.- The President of the People�s Committee of Long An province, the Minister of Planning and Investment; the Minister of Finance; the Minister of Construction; the Minister of Defense; the Minister of Industry; the Minister of Science, Technology and Environment, the General Director of the General Land Administration, the Governor of the State Bank of Vietnam, the head of the Vietnam Industrial Zone Management Board, the Director of the Duc Hoa II Industrial Zone Joint Venture Company and the heads of the concerned agencies shall, within the ambit of their functions and powers, have to implement this Decision.

For the Prime Minister

Deputy Prime Minister

NGO XUAN LOC